Cetera Investment Services LLC broker David Cohen (CRD# 5083883) is accused of misrepresentation. He was registered with Cetera Investment Services LLC in Yonkers, New York, from 2019 to 2025, when he was terminated regarding, “The representative was discharged for transacting business while under suspension by the Firm and for failing to cooperate with the Firm’s internal review of allegations that client funds were paid directly to the representative, and the representative used the funds to support his business.” He was previously registered with Foresters Financial Services, Inc. in New York, New York, from 2006 to 2019.
In March 2026, FINRA barred him after he “refused to appear for on-the-record testimony requested by FINRA in connection with its investigation into whether he converted or misappropriated customer funds.”
David Cohen Customer Complaints
He has been the subject of four customer complaints between 2025 and 2026, according to his CRD report:
March 2026. “Client alleges misappropriation of funds.” The case was settled for $25,000.” The case is currently pending.
January 2026. “Client alleges representative received wire transfers directly from client as part of an alleged fraud. Alleged compensatory damages in [REDACTED] Amended SOC is $500,000.” The case is currently pending.
January 2026. “Claimant alleges the proceeds of a liquidated annuity were used for what he believed were purchases of investments and paid directly to his registered representative.” The customer sought $250,550.19 in damages, and the case was settled for $250,050.19.
January 2025. “Clients allege misappropriation of funds.” The customer sought $500,000 in damages, and the case was settled for $499,500. The complaint was regarding common and preferred stocks.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Cetera Investment Services LLC may be liable for investment or other losses suffered by David Cohen’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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